Colour Cosmetics Market Poised to Reach US$116 Bn by 2030, Estimates Fairfield Market Research

Influenced by Evolving Consumer Preferences and Increasing demand for personalized beauty solutions, the Global Market for Colour Cosmetics is Projected to Experience Continued Growth in the Coming Years

London, April 10, 2024 (GLOBE NEWSWIRE) — Global colour cosmetics market is likely to demonstrate a CAGR of 5.8%, reaching US$116 Bn by 2030 from US$78.2 Bn in 2023, propelled by changing fashion trends and increasing demand for personalized beauty solutions.

The colour cosmetics market is dynamic and driven by factors such as advancements in formulation and packaging technologies, and increasing demand for personalized beauty solutions.

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Report Attributes Details
Base Year 2022  
Forecast Year 2023 – 2030
Market Size in 2022 US$78.2 Bn
Estimated Market Size in 2030 US$116 Bn
CAGR 5.8%  
Growth Drivers
  • Growing Beauty Consciousness
  • Innovative Product Formulations
  • Evolving Beauty Standards
  • Increasing Demand for Inclusivity
  • By Product Type (Nail Products, Lip Products, Eye Products, Facial Products, Hair Products, Misc)
  • By Distribution Channel (Offline, Online)
Regional Coverage
  • North America (US, Canada)
  • Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)

Cosmetic companies continually invest in research and development to create innovative formulations that offer improved performance, durability, and skincare benefits. Advanced packaging technologies such as airless pumps, cushion compacts, and customizable palettes enhance product usability and appeal to consumers.

Cosmetic companies that can adapt to emerging trends, leverage digital platforms, and offer innovative products will remain competitive and succeed in this dynamic market. The convergence of beauty and wellness is becoming increasingly prevalent, with consumers seeking products that offer both aesthetic and functional benefits.

There is a growing demand for colour cosmetics brands to offer a diverse range of shades that cater to a wide spectrum of skin tones. Inclusivity initiatives aim to ensure that all consumers, regardless of ethnicity or skin colour, feel represented and have access to products that suit their individual needs.

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Key Research Insights

  • The offline segment is anticipated to dominate. Hypermarkets.
  • The facial products category dominated the industry in 2022.
  • Asia Pacific region is anticipated to account for significant share of the global market.
  • The market for colour cosmetics is expanding in North America and continues to expand in the forthcoming years.

Insights into Segmentation Analysis

Offline Distribution Channel Dominant

  • The offline distribution category dominated the industry in 2023.
  • The offline distribution channel for colour cosmetics predominantly includes physical retail outlets like department stores, specialty beauty retailers, drugstores, and supermarkets.
  • Despite the growing prevalence of online shopping, offline channels remain integral to the industry.

Facial Products Category Maintains Leadership Position

  • The facial product segment dominated the market in 2023. This product category encompasses items like foundations, concealers, blushes, and powders, which are essential for establishing a smooth base and enhancing facial features.
  • Foundations come in diverse formulations tailored to various skin types and coverage preferences.
  • With the growing emphasis on natural and clean beauty, many brands are prioritising foundations that offer skincare benefits alongside coverage.
  • Concealers are also highly sought after, addressing concerns such as blemishes and under-eye circles.

Key Report Highlights

  • The growing consumer preference for organic products has spurred an increased demand for sustainable and natural alternatives in the cosmetics industry.
  • The global colour cosmetics market is being propelled by evolving beauty standards and an increasing demand for inclusivity.
  • The coloured cosmetics market is characterised by a significant presence of counterfeit products, which have adverse effects on the sales and brand value of reputable brands.

Insights into Regional Analysis

Europe to Lead the Colour Cosmetics Consumption

  • Europe is a leading region for colour cosmetics consumption, with countries such as the United Kingdom, France, Germany, and Italy driving market growth.
  • Consumers in Europe value quality, innovation, and sustainability in colour cosmetics products.
  • There is a growing preference for organic colour cosmetics, driven by concerns regarding the potential adverse effects of conventional cosmetics.
  • Consumers are increasingly seeking products free from controversial synthetic chemicals and opting for multifunctional cosmetics.

Asia Pacific to Experience Rapid Growth in the Colour Cosmetics Market

  • Asia Pacific is experiencing rapid growth in the colour cosmetics market, fueled by increasing beauty consciousness among consumers in countries such as China, Japan, South Korea, and India.
  • The increasing presence of women in the workforce is contributing to growth in the region, particularly evident in the popularity of BB (blemish balms), and CC (colour correcting) creams in countries such as China, and Japan.
  • The global and Indian markets have witnessed a surge in the cruelty-free and vegan beauty segment in recent years.
  • Cosmetic manufacturers are prioritising natural and environmentally friendly ingredients to align with the growing demand for ‘green cosmetics’ and clean beauty products.

Key Companies Profiled in the Global Colour Cosmetics Market

  • The Estée Lauder Companies Inc.
  • L’Oréal S.A.
  • Revlon, Inc.
  • Avon Products, Inc.
  • Coty Inc.
  • Amorepacific Corporation
  • Chanel S.A.
  • Procter & Gamble Co. (P&G)
  • Johnson & Johnson (J&J)
  • Shiseido Company, Limited

Global Colour Cosmetics Industry Analysis, Size, Share, Growth, Trends and Forecast 2024-2031 – (By Product Type Coverage ,By Distribution Channel Coverage , By Geographic Coverage and By Company):

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